Christian Wallentin resigns as Chief Financial Officer and member of Management Board of Luminor Bank AS

25.01.2019

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Luminor Bank announced that Christian Wallentin will resign from his position as the Chief Financial Officer, Head of Financial Division and Member of the Management Board of Luminor Bank AS and will leave the company.

Following Wallentin´s resignation on 31 January 2019, Head of Transformation Management Office Tina Kukka will assume the role of interim Chief Financial Officer and lead the Financial Division alongside her current duties. Luminor is in the process to appoint a new permanent Chief Financial Officer shortly.

“Christian played a significant role in the successful merger of Nordea’s and DNB’s Baltic operations and in building up a cross-border financial organisation in Luminor,” said Erkki Raasuke, Chief Executive Officer of Luminor Bank AS.

“As a valued member of the management team he has made a huge contribution to creating Luminor’s vision and business strategy as well. We would like to thank Christian for his dedicated work during these transformative years and we wish him the very best in his professional life and continued success in the future.”

Christian Wallentin: “Having completed what I committed to do, including the merger, the post-merger stabilization and building the foundation of Luminor, it is time for me now to move on. My decision to resign has been highly difficult as I have invested all my energy for a very long time into Luminor. However, I know the decision is right, since I must now steer my priorities to my family back in Sweden.”

Wallentin’s resignation will not affect Luminor´s strategic or financial targets.

Luminor is the third-largest bank and financial services provider in the Baltics, with a 16% market share in deposits and 22% in lending. We have around one million customers and 3000 working professionals throughout the Baltics. Luminor is capitalised at 17.3% Common Equity Tier 1 capital in the amount of EUR 1.8 billion. Moody´s Investor Service has given Luminor a first-time deposits rating of Baa1 with a stable outlook. The Luminor unsecured inaugural bond with a maturity of three years was issued in October 2018 and is listed on the Irish Euronext Dublin.